ALF Group Holdings AG - Takeover Offer Received
(firmenpresse) -
ALF Group Holdings AG - Takeover Offer Received
Zurich, 30th September 2010 - The Directors of ALF Group Holdings AG (ALF) confirm that they have received notice from Andrew Alexander Index Fund LP (Bidder) that they wish to obtain control of 51% of the issued capital of ALF.
The offer contains a number of conditions and the ALF board is now seeking legal advice relating to the offer. The major terms of the offer are:
- The Bidder wishes to obtain control of 51% of the issued capital of ALF
- The Bidder has set an acquisition price of .15c Euro per share
- The Bidder negotiating an acceptable agreement with Kingsley Finance Limited (Kingsley), the largest shareholder in ALF, regarding Kingsley selling down its interest in ALF to no greater than 49%, at an agreed price.
The conditions to the offer relate to the results of a 30 day due diligence.
ALF directors will be engaging the bidder in negotiation over the next 30 days.
ALF directors understand that the bidder is in discussion with several larger shareholders.
ALF urges shareholders not to dispose of their shares at this time as ALF will issue a target statement at the expiry of the due diligence and upon the bidders offer becoming unconditional.
This target statement will set out the directors’ reasons for recommendation for support or rejection of the offer.
About ALF Group Holdings AG
ALF Group Holdings AG (ALF) wholly owns ALF Group Pty Ltd and its subsidiaries, which includes one of Australia’s largest litigation funders, and a corporate restructuring services company which also provides funding and debt and equity solutions. It is also an acquirer and developer of distressed assets and currently has projects with an end value of over AUD $400M under contract.
For further information please contact:
ALF Group Holdings AG
Level 29, Chifley Tower
2 Chifley Square
Sydney, NSW 2000
Australia
Telephone +61-2-9293-2500
Fax +61-2-9293-2930
Website: www.alfgroupag.com
E-mail: info(at)alfgroupag.com
Legal Disclaimer
This press release contains forward-looking statements based on beliefs of ALF management. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend", "plan" and "project" are intended to identify forward-looking statements. Such statements reflect the views of ALF Group Holdings AG as of the date made with respect to future events and are subject to risks and uncertainties. Many factors could cause actual results to be materially different from those projected here, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services and changes in business strategy. ALF disclaims any intention or obligation to update these forward-looking statements.
Leseranfragen:
Can Can Lingerie Holding AG
HEAD OFFICE
77-79 Anzac Parade
Kensington, 2033
Sydney, NSW, Australia
Ph: 02 9663 2842
Fax: 02 9663 2638
Email: reception(at)cancan.com.au
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Datum: 30.09.2010 - 11:22 Uhr
Sprache: Deutsch
News-ID 25546
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